For a consistent increase in returns or stability in the income level, an organization must implement a good management process. An organization must therefore strategically manage its affairs. The authors Brian 'et al' (1996, p 1) define strategic management as the process of systematically analyzing competitors, customers and the organization itself so as to provide a basis for maintaining optimal management practices. Proper strategic management allows an organization to maintain operations in the business world and overcome any challenges that arise. Brian 'et al' (1996, pp 1-2) further argues that the main objective of strategic management is to achieve better alignment of both corporate policies and strategic priorities within an organisation. Therefore, for an organization to withstand operational challenges and operate effectively, an organization should strategically manage its affairs to avoid heavy losses, among others, the threat of closure. Strategic management allows a company to gain a competitive advantage over other companies, thus high returns. The Synthetic Fiber domain is a manufacturing company that produces synthetic fibers. The company has a mission to be the leading natural synthetic fiber and chemical manufacturing company in the UK. The company is currently in crisis because the patent on the established product is about to expire. While they have a potential patent replacement, it still has engineering issues associated with mass producing the replacement (Crylon). This could be due to the company's ineffective strategic management. This could also be a result of adopting a formal approach to strategic management. Brian 'et al' (1996, pp 4-7) stat... half of the document... have been purposely integrated to achieve the desired final test. A firm's core competencies are capabilities that serve as a source of competitive advantage for a firm over its rivals. DSF has several capabilities that are unique, valuable and inimitable compared to its competitors. Crylon production is inimitable compared to DSF's competitors due to high production costs. It also holds 40% of the market share. DSF should therefore use its core competencies to moderate rivalry among competitors, facing minimal threat from substitutes and thus a high barrier to entry. This creates high profit potential. They should also develop appropriate, acceptable and feasible strategies so as to acquire high returns. References Brian Kenny, Edward Lea, Luffman and George A, 1996. Strategic Management: An Analytical Introduction. Retrieved from: http://www. books.google.co.ke
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